Last Modified: Wednesday, January 30, 2008 at 10:23 p.m.

Congress and President Bush are pushing for the passage of a bill that contains tax rebates and business tax incentives to stimulate the economy. The economic stimulus package is designed to jump-start the economy and keep it out of a recession after recent stock market declines and other signs the economy is slowing.

"Working families across Western North Carolina and across our nation are struggling with higher costs: from gasoline to child care to groceries," Shuler, D-Waynesville, said in a statement. "Yet, wages are stagnant and median household income is actually falling. These tax rebates will provide a much needed financial cushion for our families and make it a little easier for them to make ends meet."

The package, as proposed in the House, calls for rebate checks of up to $600 for individuals and up to $1,200 for couples to be mailed out later this year. About 117 million Americans could receive rebates under the proposal.

Shuler said the recent crisis in the housing market was part of his reason for supporting the bill.

"Allowing families to lose their homes to foreclosures due to predatory loans would have been immoral and would have threatened the stability of our entire economy," Shuler said. "This economic stimulus protects our economy, while also helping families stay in their homes."

But in a recent interview, Shuler said he had serious reservations about the plan. He wants Congress to be more fiscally conservative and was worried about the country having to sell more debt to pay for the incentives.

"We are at a point where we have borrowed enough from China, borrowed enough from Japan, borrowed enough from India," Shuler said in an exclusive interview with the Times-News, adding, "We have to get a handle on spending."

The Senate and the House are poised for a showdown over the package. The Senate has added some provisions to its version of the bill, angering some members of the House. Shuler said he wants both parties to work together to pass the package.

"The American people are tired of partisan politics disrupting the business of our nation," Shuler said. "I am glad to see both parties joining together to help working families and small businesses."

<p>Despite saying he had reservations two weeks ago, U.S. Rep. Heath Shuler is supporting the economic stimulus package.</p><!-- Nothing to do. The paragraph has already been output --><p>Congress and President Bush are pushing for the passage of a bill that contains tax rebates and business tax incentives to stimulate the economy. The economic stimulus package is designed to jump-start the economy and keep it out of a recession after recent stock market declines and other signs the economy is slowing.</p><p>"Working families across Western North Carolina and across our nation are struggling with higher costs: from gasoline to child care to groceries," Shuler, D-Waynesville, said in a statement. "Yet, wages are stagnant and median household income is actually falling. These tax rebates will provide a much needed financial cushion for our families and make it a little easier for them to make ends meet."</p><p>The package, as proposed in the House, calls for rebate checks of up to $600 for individuals and up to $1,200 for couples to be mailed out later this year. About 117 million Americans could receive rebates under the proposal.</p><p>Shuler said the recent crisis in the housing market was part of his reason for supporting the bill.</p><p>"Allowing families to lose their homes to foreclosures due to predatory loans would have been immoral and would have threatened the stability of our entire economy," Shuler said. "This economic stimulus protects our economy, while also helping families stay in their homes."</p><p>But in a recent interview, Shuler said he had serious reservations about the plan. He wants Congress to be more fiscally conservative and was worried about the country having to sell more debt to pay for the incentives.</p><p>"We are at a point where we have borrowed enough from China, borrowed enough from Japan, borrowed enough from India," Shuler said in an exclusive interview with the Times-News, adding, "We have to get a handle on spending."</p><p>The Senate and the House are poised for a showdown over the package. The Senate has added some provisions to its version of the bill, angering some members of the House. Shuler said he wants both parties to work together to pass the package.</p><p>"The American people are tired of partisan politics disrupting the business of our nation," Shuler said. "I am glad to see both parties joining together to help working families and small businesses."</p>